{"id":293968,"date":"2021-07-09T06:50:19","date_gmt":"2021-07-09T10:50:19","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=293968"},"modified":"2024-05-31T08:56:08","modified_gmt":"2024-05-31T08:56:08","slug":"5-top-cryptocurrencies-to-buy-for-long-term-returns-july-2021-week-2","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/5-top-cryptocurrencies-to-buy-for-long-term-returns-july-2021-week-2","title":{"rendered":"5 Top Cryptocurrencies To Buy For Long-Term Returns July 2021 Week 2"},"content":{"rendered":"

The cryptocurrency market continues to frustrate short- and medium-term traders. Having recovered to $1.52 trillion on Monday, its total value has since fallen back down to $1.42 trillion. This is a drop of about 6.5% in a few days. And with the likes of dogecoin (DOGE) and ripple (XRP) falling by even greater margins, it’s enough to frustrate the aims of any trader looking for a quick(ish) profit. However, as an antidote to the market’s seesawing, we’ve put together a list of the 5 top cryptocurrencies to buy for long-term returns. This covers coins with stronger fundamentals than any others. It also covers cryptos that are likely to have good news on the horizon.<\/p>\n

5 top cryptocurrencies to buy for long-term returns<\/h2>\n

Bitcoin (BTC)<\/h3>\n

Bitcoin (BTC) arguably remains the ultimate cryptocurrency when it comes to long-term returns. At $33,000 it hasn’t done too great over recent timeframes though. It’s down by 2% over the past seven days, and by 5% over the past fortnight. It’s also 49% down from its all-time high of $64,804, set back in the heady days of April.<\/p>\n

\"Bitcoin<\/a><\/p>\n

As the chart above indicates, bitcoin’s resistance and support levels are currently declining. Support stood at around $33,000 at the beginning of the month, but has now fallen to around $32,000. Likewise, bitcoin’s resistance level hit about $36,500 in early July, but has now subsided to under $34,000. With global markets also sliding, these levels could fall further.<\/p>\n

Of course, the long-term case for bitcoin remains as strong as ever. A Pantera Capital report from June<\/a> noted that BTC’s 11-year trend line indicates a price of $62,500. This trend line — which is based on historical price data — also indicates a price of around $100,000 by the beginning of 2022. This may look unlikely under the present circumstances, but the stock-to-flow model also predicts a BTC price in excess of $100,000 by the year’s end.<\/p>\n

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My on-chain data (color overlay in the chart below) tells me this bull is not over and 64K was not the top. That is in line with s2f(x) model. Also my floor indicator (not based on s2f) says we will not go below 47k Aug close. pic.twitter.com\/K6Hfjdp26x<\/a><\/p>\n

— PlanB (@100trillionUSD) July 2, 2021<\/a><\/p><\/blockquote>\n